Pension fund to continue investing in ‘unethical’ stocks

The €11.6 billion National Pension Reserve Fund (NPRF) will continue to invest in tobacco, booze and bomb companies, despite adopting a new ethically-driven investment policy for 2005.

25th December, 2004

The €11.6 billion National Pension Reserve Fund (NPRF) will continue to invest in tobacco, booze and bomb companies, despite adopting a new ethically-driven investment policy for 2005.

The fund, which is designed to meet some of the pension liabilities of public service workers in future years, has decided it cannot afford not to invest in the shares of big tobacco firms.

Tobacco companies re corded spectacular share price gains on world markets this year. The fund...

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